DOJ Tells Halliburton/Baker Hughes “No Deal Yet” – What’s Next?

As we told you yesterday, the Halliburton buyout of Baker Hughes continues to be in trouble due to regulators (see Whispers Turning in Chorus, Halliburton/BH Deal in Trouble). Regulators in Australia and Brazil are balking at the deal, and there's grumbling in the European Untion. But that's all inconsequential compared to the main obstacle--the U.S. Dept. of Justice (DOJ). Earlier this week Halliburton/BH announced the timing agreement to reach a deal with the DOJ will expire with no deal worked out with the feds. However, they will keep working on a deal with the DOJ--they haven't given up. What it means is that the new marriage date, which had slipped from December 1st to "early 2016," will now be April 30, 2016--more than a year after announcing their nuptials. That is, IF they can hammer out a deal that pleases the bureaucrats at the Obama DOJ. Here's the statement from Halliburton/BH issued earlier this week...

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